Cash for Clunkers Program Exceeding Expectations

The “cash for clunkers” program has proven to be very successful thus far. The $1 billion
targeted to this program was expended in just one week, stimulating the purchase of
approximately 200,000 vehicles while benefiting the environment by replacing the “clunkers”
with more fuel-efficient newer vehicles. The program requires an additional $2 billion in
funding to continue, which should provide further incentives to Americans to purchase new
vehicles that meet a set of criteria to ensure that the new vehicles will be more fuel
efficient than the vehicles they would replace.